REBusinessOnline

Scannell Properties Buys Development Site Near Phoenix, Plans 850,000 SF Distribution Center

BUCKEYE, ARIZ. — Scannell Properties has purchased a 70-acre development site, located near the corner of Miller and Durrango roads in Buckeye, for nearly $6.6 million.

The buyer plans to develop an 850,000-square-foot, build-to-suit distribution facility at the property for specialty discount retailer Five Below. The tenant plans to initially bring approximately 150 new jobs to the area and expects to grow to nearly 300 employees over the next five years.

Greg Vogel and Wes Campbell of Land Advisors Organization’s Metro Phoenix office represented the undisclosed seller in the deal.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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